At a cost of $37 billion, Indonesia could retire its coal power plants as early as 2040 and reap economic, social and environmental benefits from the shift, a new analysis by nonprofit TransitionZero shows.
Replacing coal with renewables will create a windfall of new jobs, which would outweigh coal closure job losses by six to one, according to the analysis.
The analysis has also identified three coal plants in Indonesia that are the most suitable for early retirement, as they have lower abatement costs and are the most polluting.
JAKARTA — Indonesia’s plan to retire its coal-fired power plants and replace them with renewable energy by 2050 is not only feasible, but, when environmental costs are considered, will be less costly than relying on coal to power the Indonesian economy, according to a new analysis.
Indonesia is often dubbed as the last bastion for coal, as its power sector remains heavily reliant on the fossil fuel — about 70% of its generated electricity came from coal in 2021. Indonesia is also the world’s biggest thermal coal exporter.
Vietnam’s coal imports are forecast to rise to meet domestic production demand, according to a draft strategy for developing the coal industry in Vietnam recently introduced by the Ministry of Industry and Trade (MoIT).
Hanoi (VNA) – Vietnam’s coal imports are forecast to rise to meet domestic production demand, according to a draft strategy for developing the coal industry in Vietnam recently introduced by the Ministry of Industry and Trade (MoIT).
Accordingly, Vietnam will import about 50-83 million tonnes of coal per year during the period from 2025 to 2035, with the volume gradually falling to about 32-35 million tonnes by 2045.
The data from the MoIT shows domestic coal consumption increased rapidly from 27.8 million tonnes in 2011 to 38.77 million tonnes in 2015, and about 53.52 million tonnes in 2021.
The volume of coal consumed at present has more than doubled compared to 2011, mainly for electricity production.
The demand for primary energy, including coal, will continue to increase, possibly peaking in the 2030-2035 period, the ministry said.
Vietnam’s coal demand will be around 94-97 million tonnes in 2025, and peak at 125-127 million tonnes in 2030, mainly due to the increase in demand for power generation, and the cement, metallurgy and chemical industries.
The ministry also predicted that the demand for energy after 2040 will decline due to the energy transition process to meet emission reduction targets.
In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal burning in the U.S. is in the midst of its biggest revival in a decade, while China is reopening shuttered mines and planning new ones
GLASGOW, Nov 4 (Reuters) – Indonesia, Poland, Vietnam and other nations pledged on Thursday to phase out use of coal-fired power and stop building plants, but their deal at the COP26 climate summit failed to win support from China, India and other top coal consumers.
More than 40 countries have agreed to phase out their use of coal-fired power, the dirtiest fuel source, in a boost to UK hopes of a deal to “keep 1.5C alive”, from the Cop26 climate summit.
Major coal-using countries, including Canada, Poland, South Korea, Ukraine, Indonesia and Vietnam, will phase out their use of coal for electricity generation, with the bigger economies doing so in the 2030s, and smaller economies doing so in the 2040s.
More than 40 countries have agreed at COP26 to phase out their use of coal power by 2040 at the latest.
More than 40 countries have agreed to phase out coal-fired power at the COP26 climate summit. The agreement includes 18 countries promising to phase out or stop investments in new coal-fired plants domestically and internationally for the first time.
The list includes major coal using countries, including Canada, Poland, Ukraine, and Vietnam. Signatories to the agreement have committed to phasing out coal power in the 2030s for major economies and the 2040s for poorer nations. Dozens of private organisations have also signed up to the pledge, with HSBC and Export Development Canada among several major banks agreeing to divest from the coal industry.
Latest draft power development plan puts clean energy transition at risk by sacrificing renewables for more coal
29 September (IEEFA Vietnam): In the lead up to the United Nations Climate Change Conference COP26, President Xi Jinping recently declared that China will no longer build new coal-fired power projects abroad. Despite limited details, the ramifications of China’s coal exit strategy for coal-centric developing economies like Vietnam could be immense.
The ramifications of China’s coal exit for coal-centric developing economies could be immense
Before President Xi’s announcement, Vietnam’s latest draft Power Development Master Plan 8 (PDP8) was released, and in a surprising shift, proposed to raise the installed capacity target for coal-fired power by 3 gigawatts (GW) to 40GW by 2030, with an additional (and final) 10GW to be deployed by 2035.
On September 21, 2021, Chinese president Xi Jinping announced at the United Nations General Assembly debate that China would not build any new coal-fired power plants abroad and would step up its support for developing green and low-carbon energy in developing countries. He also reiterated the country’s goal to become carbon neutral by 2060 and peak carbon emissions by 2030, targets which he had first announced last year. This new announcement sets the tone for the upcoming UN climate change conference, COP26, which will be held in Glasgow in early November.
Q1: Why does this new climate commitment matter?
A1: Xi Jinping’s speech at last year’s UN General Assembly was noteworthy because it set a timeline for China’s decarbonization. However, in addition to not specifying a peak level of emissions, it also left unanswered the question of whether the country would shoulder the responsibility for climate action outside its borders. China’s role as the largest public financier of coal projects globally has come into particular focus this past year as other governments, such as the G7 members, have pledged to slash their public financing of such projects. There were multiple calls from the international community, including U.S. special envoy for climate John Kerry, for China to end its support for coal projects globally.
Since 2013, public finance from China, Japan and South Korea accounted for more than 95% of total foreign financing toward coal-fired power plants. This financing enabled the construction and operation of coal power plants in developing countries, where investment in power supply does not match demand. These investments also came at a time when the global carbon budget was already overstretched.
Vietnam has been a Southeast Asia solar success story. It went from having barely any generation in 2018 to a quarter of its total installed capacity being solar – a 100-fold increase in two years.
This rapid growth is mainly down to the Vietnamese government’s feed-in tariff which provides a guaranteed above-market price for renewable energy producers; other incentives signed off in 2017 in an attempt to pivot away from lagging fossil fuel projects; and cheaper solar panels, some of which are assembled domestically.
Around 99% of the installed solar panels in Vietnam come from China. At the same time, China is one of the few countries that still lends Vietnam money to build coal plants.
China’s future role in Vietnam’s power system will be shaped by the latter’s newest plan for its power sector. The final version of the Power Development Plan 8 is due to be published in June, though it has been postponed before and may be again.
China, India, Indonesia, Japan and Vietnam plan to build more than 600 new coal-fired power projects, with a combined capacity of more than 300 gigawatts. Most would prove uneconomical and the new plants would put international climate goals out of reach.
By Reuters June 30, 2021 | 08:37 am GMT+7 VNExpressA coal power plant in Vietnam’s northern province of Thai Binh in 2019. photo by VnExpress/Gia Chinh.
Five Asian countries including Vietnam are responsible for 80 percent of new coal power plants planned around the world, the Carbon Tracker group said on Wednesday.
China, India, Indonesia, Japan and Vietnam plan to build more than 600 new coal-fired power projects, with a combined capacity of more than 300 gigawatts, the group said, adding most would prove uneconomical and the new plants would put international climate goals out of reach.
By Anh Minh June 18, 2021 | 11:02 am GMT+7 VNExpressWorkers fix electric cables in District 1, Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen.Vietnam Electricity, the country’ sole power distributor, has signed up three contractors for building a 1,200-MW thermal power plant at a construction cost of $1.3 billion.
The EPC contractors, No. 1 Construction Corporation, Mitsubishi Corporation of Japan and Hyundai Engineering and Construction of South Korea, will complete installation of the first turbine of the Quang Trach 1 thermal electric plant in the central province of Quang Binh within 42 months and the second in 48 months.
Vietnam has increasingly imported coal and crude oil during the social distancing period for thermal power plants.
Statistics from the General Department of Vietnam Customs show that in July, Vietnam imported nearly 4.4 million tonnes of coal at the cost of VND1.4m (USD60) a tonne. In the first seven months, Vietnam imported a total of 36 million tonnes for USD2.5bn.
Trong bối cảnh thoái vốn nhiệt điện than đang diễn ra mạnh mẽ trên toàn cầu, Việt Nam được cảnh báo đối mặt với nguy cơ bị mắc kẹt vào tổn thất kép cả về tài chính và môi trường, nếu định hướng năng lượng vẫn chủ yếu dựa vào nhiệt điện than.
“SÓNG” THOÁI VỐN NHIỆT ĐIỆN THAN. Một cảnh báo mới về các thị trường vốn toàn cầu được cựu thống đốc ngân hàng Anh Mark Carney đưa ra mới đây, dự báo về “cơn sóng thần” tổn thất tài sản do bị mắc kẹt bởi nhiên liệu hóa thạch. Khả năng lên tới 20.000 tỉ USD nếu thế giới không tuân thủ Thỏa thuận Khí hậu Paris.
Drax từng là nhà máy nhiệt điện than lớn nhất châu Âu, đang chuyển đổi sang cung cấp năng lượng sinh khối vào năm 2021. Ảnh: Christopher Furlong/Getty Images